Lincoln National Corp Has $2.25 Million Position in J P Morgan Chase & Co (JPM)
Lincoln National Corp lowered its stake in shares of J P Morgan Chase & Co (NYSE:JPM) by 55.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,627 shares of the financial services provider’s stock after selling 31,904 shares during the period. Lincoln National Corp’s holdings in J P Morgan Chase & Co were worth $2,251,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in JPM. Horrell Capital Management Inc. raised its stake in J P Morgan Chase & Co by 5.0% in the first quarter. Horrell Capital Management Inc. now owns 1,647 shares of the financial services provider’s stock valued at $145,000 after buying an additional 78 shares during the last quarter. Wsfs Capital Management LLC purchased a new stake in shares of J P Morgan Chase & Co during the fourth quarter worth about $204,000. Hartree Partners LP purchased a new stake in shares of J P Morgan Chase & Co during the fourth quarter worth about $218,000. Jackson Grant Investment Advisers Inc. raised its stake in shares of J P Morgan Chase & Co by 0.5% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 2,566 shares of the financial services provider’s stock worth $221,000 after buying an additional 14 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of J P Morgan Chase & Co during the fourth quarter worth about $223,000. 78.01% of the stock is currently owned by hedge funds and other institutional investors.
J P Morgan Chase & Co (JPM) traded up 1.480% during trading on Friday, reaching $92.235. 4,301,829 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $91.94 and a 200 day moving average price of $89.04. J P Morgan Chase & Co has a 1-year low of $65.11 and a 1-year high of $95.22. The stock has a market capitalization of $324.53 billion, a P/E ratio of 13.606 and a beta of 1.19.
J P Morgan Chase & Co (NYSE:JPM) last announced its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.23. The company had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. J P Morgan Chase & Co had a net margin of 24.13% and a return on equity of 11.53%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the business earned $1.55 EPS. Equities research analysts expect that J P Morgan Chase & Co will post $6.81 earnings per share for the current year.
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A number of brokerages have issued reports on JPM. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $93.00 target price on shares of J P Morgan Chase & Co in a research report on Thursday, July 6th. Wells Fargo & Company began coverage on J P Morgan Chase & Co in a research report on Wednesday, August 9th. They issued an “outperform” rating and a $110.00 target price on the stock. Buckingham Research reissued a “neutral” rating and issued a $100.00 target price (up previously from $94.00) on shares of J P Morgan Chase & Co in a research report on Monday, July 10th. Berenberg Bank set a $65.00 target price on J P Morgan Chase & Co and gave the company a “sell” rating in a research report on Thursday, August 3rd. Finally, BidaskClub raised J P Morgan Chase & Co from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nineteen have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $85.72.
In other J P Morgan Chase & Co news, CFO Marianne Lake sold 17,596 shares of the firm’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $91.58, for a total transaction of $1,611,441.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Stacey Friedman sold 9,968 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $90.55, for a total transaction of $902,602.40. Following the transaction, the general counsel now directly owns 10,527 shares of the company’s stock, valued at $953,219.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,564 shares of company stock valued at $2,605,334. 0.88% of the stock is owned by company insiders.
J P Morgan Chase & Co Company Profile
JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.
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